Motilal Oswal is bullish on Torrent Power recommended buy rating on the stock with a target price of Rs 392 in its research report dated August 07, 2020.
Motilal Oswal 's research report on Torrent Power
Torrent Power (TPW)'s results highlight the impact of lower volumes on its Distribution Franchise (DF) business. Reported EBITDA, though, was up 16% YoY to INR9.7b, led primarily by a one-off APTEL order benefit of INR2.5b. The co.'s Distribution business has been impacted by lower volumes due to the impact of COVID-19.
Outlook
However, demand and collections have been recovering, and a healthy balance sheet would help tide over this wave. Maintain Buy, with TP of INR392/sh.
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